When thousand items of a new product have been sold, the total profits in thousands of dollars is approximated by:
A) Suppose 14 thousand dollars of profits have been earned. (It is possible to have negative profits in this context. This means the item is not yet profitable.) Find a quadratic equation in the form you can solve to determine the number of items sold so far. Don't forget that is your variable.
Answer: The equation is .
(Use the variable .)
B) Solve your equation in part [a] by factoring and use your answer to indicate the smallest number of items that need to be sold in order to attain a profit of 14 thousand dollars.
Answer: To attain profits of 14 thousand dollars, thousand items must be sold. (And this is the smallest number of these items needed to attain that profit level.)
A) Suppose 14 thousand dollars of profits have been earned. (It is possible to have negative profits in this context. This means the item is not yet profitable.) Find a quadratic equation in the form you can solve to determine the number of items sold so far. Don't forget that is your variable.
Answer: The equation is .
(Use the variable .)
B) Solve your equation in part [a] by factoring and use your answer to indicate the smallest number of items that need to be sold in order to attain a profit of 14 thousand dollars.
Answer: To attain profits of 14 thousand dollars, thousand items must be sold. (And this is the smallest number of these items needed to attain that profit level.)